deVere Group CEO: Bitcoin may experience a short-term pullback, but it is expected to hit $120,000 in the first quarter of next year

Nigel Green, CEO of financial services consultancy deVere Group, said that after breaking through a psychological barrier, Bitcoin could see short-term selling. "With such a sharp rise in such a short time, it's natural for some investors to lock in profits. This sell-off may only be temporary and the momentum of Bitcoin will further strengthen afterwards, soaring to $120k as early as the first quarter of next year." "Bitcoin's extraordinary performance comes at a time when the market expects Trump 2.0 to create a more favorable regulatory framework for cryptocurrencies. Investors are betting on this US president-elect's supportive stance on cryptocurrencies."